It seems that the biggest video gaming event of the year may either now just be a thing of the past or something completely different.

Update: July 31st, 2006.

Many sites around the net started reporting that the Electronic Entertainment Expo, E3 for short, may be cancelled next year and maybe forever. Nothing official has been announced by the Entertainment Software Association (ESA), the people who run E3, but they are expecting something said in the next 48 hours.

Some are reporting that the expo may be cancelled. Others say it will be refined and shown as something new. But the general consensus is that the video game industries believe that they are spending way too much money to this event, when they could be using it for their own events and advertising.

Update: July 31st, 2006 – Looking again around the net, I found the second source listed below. Apparently, next-gen is trying to make it seem like E3 was cancelled, when in fact it is just becoming more exclusive again. Instead of being open doors, it will be shut to industry people and journalist, which is what it should be. An official announcement should be posted in the next 48 hours.